Publicis Groupe takes a majority Stake in Brazil’s Talent Group

April 21, 2011 — Fusion DigiNet

Publicis Groupe has acquired a further 11% in Brazil’s Talent Group, bringing its stake up to 60%. The increased participation follows Publicis Groupe’s acquisition of 49% of the agency in October 2010. This latest move does not impact Talent management, and the agency remains under the leadership of founding partners Julio Ribeiro and Paulo Zoega. Talent will continue to align under the Publicis Worldwide global advertising network. Publicis Groupe will be able to consolidate Talent in its numbers from April 5, 2011.

With more than 230 employees, Talent is one of the most prominent advertising groups in Brazil, and provides advertising services such as strategy, creative, media planning, digital communication, below-the-line, promotion, activation and mass media communication. The agency services clients such as Semp Toshiba (electronics), Santander (banking), Net (cable TV, internet and telephone operator), Ipiranga (fuel), Tigre (PVC products), Alpargatas (fashion), Dicico (home improvement), Serasa Experian (database management), Jequiti Cosmeticos (beauty and health care), Mapfre (insurance), Ovomaltine (food and beverage), Adria Alimentos (food) and Monsanto (biotechnology).

This transaction is in line with Publicis Groupe’s strategy of targeted acquisitions aimed at bolstering its presence in high-growth markets such as Brazil. According to ZenithOptimedia forecasts (April 2011), Brazil ad expenditure grew by 18.1% in 2010. The forecasts predict a 9.5% increase over the course of 2011, followed by 7.0% and 7.2% growth in 2012 and 2013 respectively. Brazil is to become the sixth ad market in the world in 2011.

Publicis Groupe has close to 900 employees in Brazil and is present through its global networks Leo Burnett, Publicis Worldwide, Saatchi & Saatchi, VivaKi, and MSLGROUP.

Comments Jean-Yves Naouri, Chief Operating Officer Publicis Groupe & Executive Chairman Publicis Worldwide, “Brazil is one of the most promising markets in the world and Talent is one of the most accomplished agencies in Brazil. This partnership will fuel growth for both partners and signals Publicis Worldwide’s continued intent to build strength in fast moving BRIC markets”.

France, Paris & Brazil

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Publicis Groupe sells its stake in Freud Communications

April 21, 2011 — Fusion DigiNet

Publicis Groupe is to sell its shares in Freud Communications to the agency’s Founder and Chairman, Matthew Freud. Since 2005, Publicis Groupe has owned a majority stake in the UK public relations firm.

Publicis Groupe will continue to provide clients in the UK and globally with the complete range of services in branding and public relations through agencies within its global PR network MSLGROUP.

Said Olivier Fleurot, CEO of MSLGROUP, “I enjoyed working with Matthew and I have a lot of respect for his skills. We wish him success in his future endeavors.”

France, Paris & UK, London

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PR consultancy Ketchum acquires majority stake in India’s Sampark PR

April 21, 2011 — Fusion DigiNet

Ketchum, one of the world’s largest global public relations consultancies, has acquired a majority stake in India, Sampark PR. This move, follows recent acquisitions in Greater China and Russia. Sampark PR  was founded in 1994 by Bela Rajan and N.S. Rajan, who, as director and managing director, will continue to lead the India business and will retain a significant holding in the agency going forward. It will operate as Ketchum Sampark.

Sampark PR, one of the leading PR networks in India, has broad national reach with offices located in Mumbai, New Delhi, Kolkata, Chennai, Bangalore, Pune and Hyderabad and a network of 80 associate offices that extends throughout the country’s 25 states, providing greater inroads into India for Ketchum’s international client businesses and global brands. In turn, Ketchum will provide greater access to international markets for blue-chip and burgeoning Indian companies and brands, many of which are turning to communications to help build and support their reputations. In fact, a recent study carried out by the Associated Chambers of Commerce and Industry of India (ASSOCHAM India) underscored the significant expansion of the public relations industry in India, which is growing 32 percent annually, measured against the acceleration of between 22 percent and 25 percent witnessed during the last few years.

“Today marks another important milestone for Ketchum as we continue to implement our global vision of providing consistently excellent communications service to our clients in the key business and communications markets where they operate,” said Ray Kotcher, senior partner and CEO, Ketchum. “Our investments over the past six months, in Russia, China and now India, are predicated on this strategy and fortify the foundation we have in place for our clients and our people.”

As part of the transaction, in addition to Bela Rajan and N.S. Rajan, the India operation’s board of directors will include Higgins, Robert Lorfink, senior partner, COO, and CFO of Ketchum, and Tom Harrison, chairman and CEO of Diversified Agency Services, a division of Omnicom Group. The leadership team of Bela Rajan, N.S. Rajan and Ajay Sharma, managing partner, will continue to manage the day-to-day operations of the agency in India.

“The enormous potential in India leads to a strong demand for communications services from global companies operating in the region and Indian companies looking at new markets. This is an ideal time to reach this agreement,” said N.S. Rajan. “We are eager to work with the board and Ketchum’s leadership group to expand our partnership with Ketchum and maximize opportunities for our clients. We believe we can better service our clients and can accomplish far more together in the years ahead than we could have achieved on our own.”

USA, New York, NY & India, Mumbai

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eBay to acquire shares in Turkey’s GittiGidiyor

April 21, 2011 — Fusion DigiNet

eBay has agreed to acquire additional shares in GittiGidiyor, the leading online marketplace in Turkey. The deal follows eBay’s acquisition of a minority stake in the company in 2007. Upon closing of the transaction, eBay will own approximately 93% of the outstanding shares of GittiGidiyor. Terms of the deal were not disclosed.

Launched on February 5, 2001, GittiGidiyor has more than 6.4 million registered users. The company’s business model is complementary to eBay’s with the addition of a mandatory escrow service for payments between buyer and seller. Today, all of GittiGidiyor’s transactions come from fixed price listings with the largest categories being Fashion and Consumer Electronics, which are also among eBay’s top shopping experiences.

Doug McCallum, senior vice president for eBay in Europe, said: “We knew that when we acquired a stake in GittiGidiyor that we were buying into an excellent business in an exciting ecommerce market. Since 2007, we have been impressed with GittiGidiyor, its people, its VC investor iLab and its successful approach to ecommerce. There is a lot that we can learn from GittiGidiyor, and much we can share.”

Turkey is the world’s 12th largest market for Internet usage, with a penetration rate of 45% according to Internet World Stats1.

GittiGidiyor, which was founded by Serkan Borançılı, Burak Divanlıoğlu and Tolga Kabataş, is headquartered in Istanbul, Turkey and employs over 150 people. In addition to eBay, the company previously raised capital from iLab Ventures, founded and led by Mustafa E. Say.

“Becoming an eBay company is a source of great pride for GittiGidiyor,” said Serkan Borançılı, chairman of GittiGidiyor’s board of directors. “By being fully part of eBay, we can accelerate our development, benefit from world class best practices and consolidate our leadership position in one of Europe’s fastest growing ecommerce markets. Mustafa E. Say, Founder and Chairman of iLab, an early investor in GittiGidiyor, said: “GittiGidiyor’s growth is testament to the Founding Partners who are among the leading new generation entreprenuers that aspiring young start-ups in Turkey can look up to. At iLab, we are excited about our continuing partnership with eBay and the potential growth still ahead of GittiGidiyor.”

USA, San Jose, CA & Turkey, Istanbul

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UBM Q1 results

April 21, 2011 — Fusion DigiNet

Highlights

  • Q1 revenue was up 13.7% to £237.7m (Q1 2010: £209.1m); underlying revenue growth of 7.5%.
  • Adjusted operating profit up by 18.6% to £44.6m (Q1 2010: £37.6m).
  • Operating profit margin rose to 18.8% (Q1 2010: 18.0%) driven by strong events margin.
  • Revenue patterns and margins reflect seasonal variations and our expectations remain in line with the outlook described in our 2010 results – for segmental detail see sections below.
  • We have continued to manage the portfolio actively during the period and have announced the acquisition of two Indian events businesses while disposing of print titles in France, the UK and the US.

David Levin, Chief Executive Officer, UBM said:
“We are pleased with the performance of the business in the first quarter where we have seen good underlying revenue growth of 7.5% and we remain on track to meet our expectations for the full year. As we said at the full year we expect the improved quality and shape of the business to result in sustained underlying revenue growth during 2011 broadly in line with the 5.6% growth enjoyed in 2010. Overall we anticipate continued growth in profit largely driven by a full year of contribution from our acquisitions and continued momentum in our Events business tempered by targeted investment in Data Services, TD&M and Online.”

Unaudited results for the three months ended 31 March 2011
Revenue 2011 2010 Change Underlying Change
£m £m % %
Events 84.1 62.8 33.9 15.9
Targeting, Distribution & Monitoring 46.9 43.0 9.1 8.3
Data Services 55.6 54.6 1.8 4.9
Online – Marketing Services 19.7 13.8 42.8 14.2
Print – Magazines 31.4 34.9 (10.0) (13.1)
Total Revenue 237.7 209.1 13.7 7.5
   Margin
Adjusted operating profit 2011 2010 Change 2011 2010
£m £m % % %
Events 27.7 16.5 67.9 32.9 26.3
Targeting, Distribution & Monitoring 9.9 10.1 (2.0) 21.1 23.5
Data Services 12.5 13.3 (6.0) 22.5 24.4
Online – Marketing Services (2.1) (1.6) (31.3) (10.7) (11.6)
Print – Magazines 0.2 1.0 (80.0) 0.6 2.9
Corporate Operations (3.6) (1.7) nm n/a n/a
Total Adjusted Operating Profit 44.6 37.6 18.6 18.8 18.0

Events

  • YTD event revenues are up 33.9% to £84.1m (Q1 2010: £62.8m); underlying growth was 15.9%.
  • Key drivers were strong emerging markets performance, growth at our key US technology events and the newly acquired UBM Canon events, partially offset by some weaker performances for example at BSEC which is exposed to the UK education sector.
  • UBM Canon events have traded ahead of their 2010 editions and in line with the acquisition business case.
  • Adjusted operating margin of 32.9% (Q1 2010: 26.3%) reflected the contribution of UBM Canon, with major events concentrated early in the year.
  • We are encouraged by the performance of Events in Q1, traditionally the quietest quarter in the year, and reiterate our guidance of continued underlying growth, albeit at a slowing pace given the comparatives become more challenging as the year progresses.
  • As stated in February, we expect the positive margin impact from biennial events to be less pronounced than usual given their relative size within the overall portfolio and as we continue to invest in the development of new markets and events.
  • Forward bookings for UBM’s 2010 Top 20 events running in the next 12 months are up 20.7%.

Targeting, Distribution & Monitoring (“TD&M”)

  • PR Newswire’s revenues rose 9.1% to £46.9m (Q1 2010: £43.0m); underlying growth was 8.3%.
  • Continued growth in US non-wire products (especially MultiVu and Vintage) was accompanied by a robust performance in US wire and good international growth.
  • Adjusted operating margin of 21.1% (Q1 2010: 23.5%) reflects the step up in IT costs from Q3 2010, some margin dilution from a larger proportion of revenues generated from US non-wire and international activity as well as higher sales force and product investments relative to Q1 2010.
  • TD&M volumes and revenues reflect seasonal variations. We expect continued revenue growth in 2011, as set out in the full year results, and overall margins to be slightly ahead of the second half of 2010 (20.8%).

Data Services

  • Data Services revenues rose 1.8% to £55.6m (Q1 2010: £54.6m), with underlying revenue growth of 4.9%.
  • Performance reflect higher UBM TechInsights revenues, good growth in most digital data products and solid listing fees performance at Vidal, partially offset by lower print directory sales, declines in aviation advertising revenue and some weakness in our subscription driven Trade & Transport business.
  • The timing of the publication of print directories creates revenue and profit seasonality. Adjusted operating margin for the period was 22.5% (Q1 2010: 24.4%). The decline from Q1 2010 reflects a higher proportion of UBM TechInsights activity, lower print directory sales and related advertising and investment in new products.
  • As set out in the full year results, we expect that full year revenues will grow at the solid pace demonstrated in 2010, given comparatives become more challenging as the year progresses, and that full year margins will be broadly in line with those of the second half of 2010 (16.0%).

Online – Marketing services (“Online”)

  • Online revenues rose 42.8% to £19.7m (Q1 2010: £13.8m), with underlying revenue growth of 14.2%.
  • Continued strong growth in the technology community (most notably Information Week) was aided by contributions from acquisitions including Canon Communications, GAO and OBGYN.net.
  • Online adjusted operating margin was -10.7% during the period compared to -11.6% in Q1 2010.
  • Our outlook for online remains the same as at the full year results – we continue to expect good growth in revenues, although there is likely to be some moderation in underlying rates as the year progresses. Operating margins are expected to continue to reflect the dilutive effect of investment in new products, particularly Virtual Events and engagement offerings, and we do not currently anticipate margins being much higher than in 2010.

Print – Magazines (“Print”)

  • Print revenues fell by 10.0% to £31.4m (Q1 2010: £34.9m), with underlying revenues down 13.1%.
  • During the period we disposed of the Publican and French medical print titles. Since the end of the period we have transferred UBM Canon’s electronics titles in China to the eMedia Asia JV, in which we own a 39.9% interest, and have also disposed of the Consultant titles in the US.
  • Adjusted operating margin for the period was down to 0.6% (Q1 2010: 2.9%).
  • After taking into account the disposals and the £14.6m pro forma from 2010 acquisitions (adjusted for the transfer of Chinese electronics titles), we expect underlying revenues for the print portfolio to decline at rates broadly similar to those seen across our portfolio for 2010 (c-12%).
  • We continue to expect the margins in print to improve over time, however following the disposals (which had enjoyed 8.1% margins), 2011 margins are expected to be broadly similar to 2010.
  • UBM’s print magazine portfolio comprised 114 titles at 31 March 2011 (31 Mar 2010: 109).

Portfolio changes

  • During the period we announced the acquisitions of the Indian Travel show SATTE and a 60% stake in Famdent, India’s largest dental exhibition and conference business. The initial consideration for these two acquisitions will be c£3.0m and the combined revenues were approximately £1.6m in 2010.
  • The French medical, Publican and Consultant titles contributed £41.9m to full year 2010 revenues and £3.4m to profits.

Net debt

  • UBM’s consolidated net debt stood at £459.0m as at 31 March 2011.
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CloserStill Media’s new investment arm acquires Red Publishing

April 20, 2011 — Fusion DigiNet

According to Exhibition News, CloserStill Media’s new investment arm has made its second acquisition within a week, picking up small events company Red Publishing for an undisclosed sum.

Red Publishing operates two exhibitions dedicated to the emerging cloud computing market. Its principal, Maggie Meer, will join Closer2 as a shareholder and run day-to-day operations supported by CloserStill partner Phil Nelson.

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lCloserStill Media launches an investment arm and made its first acquisition

April 13, 2011 — Fusion DigiNet

According to Exhibition News, CloserStill Media has launched a privately-funded investment arm and made its first acquisition.

Closer2 has been granted £3m in funding by the existing CloserStill management team and privately equity firm NVM to spend on acquisitions that diversify the organiser’s show portfolio into new markets.

Closer2’s first acquisition is Biofuels Media, which operates the annual European Bioenergy Expo and Conference (EBEC) at Stoneleigh Park as well as an information portal for the renewable energies market. Biofuels’ three staff will move across to CloserStill and its former principal Richard Price will now oversee the newly created Closer2 Alternative Energy division as a minority shareholder.

CloserStill MD Andy Center

UK

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WSP acquires Swedish environmental software company Natlikan

April 13, 2011 — Fusion DigiNet

WSP has acquired Natlikan, the Swedish based environmental software company. The purchase has been made by WSP Sweden AB and the business will initially be called WSP Natlikan.

Natlikan will become part of WSP Digital, the company’s global environmental technology and software business. They will be based in Sweden and will work closely with WSP’s environmental and energy consulting business both in this region and internationally.

Natlikan has over 20 years of experience designing, building and selling web based environmental solutions integrated with environmental consultancy in the corporate sector. The company’s clients include: Bombardier; Rolls Royce; Volvo; Alfa Laval; Danske Bank; and ABB.

Henry Okraglik, Global Director of WSP Digital says that the acquisition of Natlikan is a perfect complement to WSP’s expanding range of online expertise: “We are increasingly using web based technologies to enable our clients to access information, knowledge and take control of their environmental, sustainability and risk management issues. Natlikan’s long and successful track record in procuring, mediating and publishing online legal environmental information is a natural extension to the capability we can offer clients.”

Natlikan offers clients legal registers in the areas of environmental, health and safety and food safety. Using a web based platform the company aggregates and provides access to easily searchable compliance and legislative documents. The content is sourced from publications by the EU, individual European countries and from other countries outside of the EU. Clients access information through a range of subscription based services. In addition, Natlikan offers a web based Corporate Sustainability Reporting tool to enable companies to define and configure environmental and social responsibility goals, and measure and communicate their performance; and the business manages ‘Green Chain’, a membership based sustainable supply chain management network.

Natlikan owners and founders Magnus Agerström and Sven Ericsson will join WSP with their colleagues. Magnus comments on the opportunity: “We are delighted to join WSP which is a truly international business. It enables us to leverage an even wider client base who value the ability to access important online regulatory information that helps them make critical business decisions that affect the products they sell and the markets they operate in.”

“We are very proud of the platform we have built which draws information from international legal and environmental experts, and uses our own team of specialists to mediate the data and publish in a user-friendly manner to the benefit of busy environmental and compliance managers in leading organisations around the world” said Magnus.

In welcoming the Natlikan team to WSP, Ole Paus, WSP Environment & Energy’s Regional Managing Director for Scandinavia said:  “WSP has had a productive and mutually beneficial relationship with Natlikan in Sweden over several years and we are delighted to welcome their founders, Magnus Agerström and Sven Ericsson to WSP.”

Sweden, Stockholm and Lund

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Wolters Kluwer Financial Services acquires Spring Programs

April 12, 2011 — Fusion DigiNet

Wolters Kluwer Financial Services, a comprehensive regulatory compliance and risk management business, has acquired Spring Programs Ltd. (Spring), an independent provider of financial regulatory reporting solutions in the UK banking market. Wolters Kluwer Financial Services is acquiring Spring through its FRSGlobal business, which provides a unified regulatory reporting and risk management solution for financial organisations across the globe. The terms of the deal were not disclosed.

“The introduction of the Financial Services Authority (FSA) liquidity regime with mandatory stress testing has begun to change the regulatory reporting landscape dramatically across the UK,” said Steve Husk, CEO of FRSGlobal. “Together with Spring, we can provide the most comprehensive financial risk and reporting solutions for UK financial firms of all sizes.”

Spring’s primary product, SPRiNG, was the first software package to be developed specifically for Bank of England reporting in 1987. Five of the six largest UK banking groups use SPRiNG to report to the regulator. Spring also provides solutions that address the financial reporting requirements of the Central Bank of Ireland, the FSA and British Bankers’ Association. Additionally, Spring caters to UK Building Societies.

“Wolters Kluwer Financial Services’ main focus is providing financial services organisations across the globe with compliance and risk management solutions to help them understand and comply with changing regulations,” said Brian Longe, CEO of Wolters Kluwer Financial & Compliance Services. “The acquisition of Spring will allow us to strengthen that commitment to UK financial services firms, which are facing dramatic changes in how regulation is structured.”

UK, London & Gloucestershire, England

 

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VC Funding in the solar sector off to a Strong Start With Q1 Coming in at $658 Million

April 12, 2011 — Fusion DigiNet

Mercom Capital Group, llc, a global clean energy communications and consulting firm, today released funding and merger and acquisition (M&A) activity in the solar sector for the first quarter of 2011.Venture capital (VC) funding in the solar sector came in at $658M in 25 deals, compared to $238M in the previous quarter. The trend was similar with M&A activity amounting to $1.4B in 18 transactions for Q1, compared to $266M in Q4 2010.

“Looking at the first quarter funding activities, it is clear that VC investor’s appetite for solar has not gone away. In fact, this was the best VC funding quarter since Q2 of 2010 and the second best quarter since Q4 of 2008,” commented Raj Prabhu, Managing Partner at Mercom Capital Group.The top five funding deals were $201M raised by BrightSource Energy, a concentrated solar power (CSP) company. MiaSole, a CIGS thin-film panel maker raised $106M; Alta Devices, a GaAs thin-film developer raised $72M; Solopower, a CIGS flexible thin-film maker, raised $51.6M; and Kiran Energy, a project developer raised $30M.

Thin film companies attracted the most funding with $283M raised in seven deals. CIGS was the most popular technology within thin films accounting for $196M in four deals. CSP companies raised $212M in three deals, followed by $84M raised by solar downstream companies in six deals.Top VC investors included Crosslink, Vantage Point, Convexa, Hudson Clean Energy and Kleiner Perkins.

In continuing with last year’s trend, VC arms of companies remained active in the sector, including Alstom, BP, GE, Chevron, Dow Chemical, Intel and Hanwha. California State Teachers’ Retirement System (CalSTRS), a pension fund, also invested.

Of the $9.8B announced in debt and other funding, Jinko Solar received $7.6B in credit from Bank of China.

For a complete list of solar transactions, visit: http://mercomcapital.com/cleanenergyreports.php

USA, Austin, TX

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